SET-listed Thai Union Frozen Products Plc (TUF) has introduced a six-month price-guarantee scheme for shrimp farmers and expects to buy 1.5 billion baht worth of the crustacean.
Rittirong Boonmechote, president of TUF's global shrimp business, said Thailand's shrimp exports had declined significantly amid weakening purchasing power in the large economies.
The Thai frozen shrimp industry has also faced a supply shortage and low global prices due to an outbreak of early mortality syndrome.